Oil and Natural Gas Corporation’s (ONGC) onshore domestic crude oil production has increased to 5.97 MMT during the fiscal year ended March compared to 5.82 MMT in FY16, registering a growth of 2.4%. This rise in production is due to early monetization of discoveries at Ankleshwar, Cauvery (Madnam) and Rajahmundry (Keshnapalli West), among others. The company had as many as 23 new discoveries in 2016-17 as compared to 17 in 2015-16.
ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.